CISA mills’ daily steel output up 0.57 percent in mid-January

The China Iron and Steel Association (CISA) has announced that in mid-January (January 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9366 million mt, up 0.57 percent compared to early January (January 1-10) this year. In early January this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 1.9257 million mt, up 0.51 percent compared to late December (December 21-31) last year. Inventory levels in the Chinese steel market increased in the given period. As of January 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.0688 million mt, rising by 7.94 percent compared to January 10. As of January 20, rebar futures at the Shanghai Future Exchange were standing at RMB 4,179/mt ($618/mt), rising by RMB 55/mt ($8.1/mt) or 1.3 percent since January 10. $1 = RMB 6.7604